The FTSE 100 was seen opening 0.6% lower. Company updates included Associated British Foods forecasting another profit decline, Hiscox reporting a 9.5% rise in premiums, and TP ICAP reporting an 11% increase in third-quarter revenue.
Britain's FTSE 100 was seen opening lower on Tuesday, with futures down 0.6%. Associated British Foods forecast another profit decline this year after reporting a 14% fall in 2025/26, citing deeper sugar losses and lower underlying sales at Primark. Hiscox reported a 9.5% rise in insurance premiums for the first nine months, while TP ICAP said third-quarter revenue increased 11%.
Drax signed a partnership with Brookfield and Radiant to jointly develop a data centre exceeding 1 gigawatt at its northern England power station. Abu Dhabi's XRG will buy Shell's stake in the Woodside Energy-operated North West Shelf project for $1.45 billion. International Paper said the separation of DS Smith remained on track to complete within or ahead of its 12-to-15-month timeline.
Virgin Media O2 is cutting jobs, halting its fibre rollout and discussing use of BT's network as it seeks to increase cash generation. Coca-Cola Europacific Partners flagged cost pressures from geopolitical tensions but said its business remained resilient. Britain's National Cyber Security Centre said the country should be prepared for an AI-powered attack on critical infrastructure in the next two years.
